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First of all let me say I am no way associated with Netpicks whatsoever. Just thought I would start this thread to document my way through their challenge.

So....signed up....got access to the template and indicators for this system. It was a lot different than what I thought it was. I thought it was one of those red light green light systems, however their is a lot more to it than that.

The system basically revolves around 4 main indicators that they created...the main one is the NetCALC...(sic). Which basically is the meat and potatoes for this system. It works basically like a momentum indicator on steroids. Depending on what time or ticks your chart is on, the indicator than searches for trend or countertrend trades. Having a look at the settings...too many to mention...other than it appears highly customisable. I have left it on the default mode to start with.

Like I said, it is far from a red light green light system. There is a ton of trading videos to watch, not only on the basics of how you use the system, but how it should be used for different markets etc etc...so there are all kinds of different trade plans.

The site is quite thorough, they go through every aspect of trading, from beginner to advanced. They suggest that you run in Sim mode until you have several profitable trades on board. Which of course I didn't...LOL...I did a few hours watching videos (much more I need to watch) and then I thought I would try running it live. The main reason I went ahead and ran it live, was that the way they trade this system is very similar to how I trade already. I don't pretend to understand how the main engine of this system calculates trades...but I found out the hard way if you go against it, their is a good chance you will lose.

I did lose a few trades trying to do my own thing, only because some of the signals it gives, it looks like it is giving these signals at the end of the micro-trend...I didn't trust the signals yet to take them....so of course I traded the opposite direction....and got stopped out....

Anyways...like I said....for me it was not a huge learning curve...as I tend to be a momentum trader myself, using mostly Jigsaw DOM to determine this. I have a long way to go to get through all the learning material...however I thought my day 1 result was a good start.

Looks like I am going to have to show real evidence (to Netpicks) of my trades to get credit for the Counterpunch challenge. So starting again from first trade, I will video entire trade, put it on YouTube, and then leave the link here.

Sorry I have been away, however nightshift was calling, so I had to get back to me "real" job.

Ok, CounterPunch (CP) evaluation time. I have included a screenshot of the typical layout that you would have seen on one of their many YouTube vids.

Basically the entire system revolves around their main CP calc indicator. What this calculator does is set up trade entries and exits depending on the algo that has been set on the indi. A + on top is a long trade, and + on bottom is a short trade. Basically looking for breakout trades. FYI - this thing generates a lot of trade opportunities.

Real question...can someone make money with this? I ended up signing up because they had this Challenge going if you could make money consistent with 20+ trades, they would refund the $997USD, and you could keep the system. I knew it was some type of breakout system going in, so I was not worried, on account that is my normal trading style.

So how did I do? Over the last couple of weeks my win ratio was 64.56%, profit after commissions was $1815, and that was after trading just 1 contract and scalping with the system for a total of 79 trades. I know I know, scalper die!...lol...anyways...that is my style by nature and it works for me.

I submitted the states to Netpicks to get my refund...however they would not except my stats, basically because it is a Live Oneup account, and any of us that trade the Live accounts you know we don't get any statements except what you can pull from R trader.

Sooooooo....according to NetPicks I have to start over again with my personal account, and document exactly each trade, instrument, time, and what trade plan I used, then submit whole package with statements back to Netpicks, and then "maybe" I will get my money back....so groundhog day for me....but I am determined to get my $997, so I will jump through the hoops one more time.

Pro's of the system - I like how it calculates entries and exits, and I like their little exhaustion dots (which are basically fractals I think).

Con's of the system - I think the SL that is generated is far too big. I think if you did not have understanding of price action, and just took every single trade it spits out, you are going to lose money big time. And the biggest thing I don't like about it, is in the live trading room where they teach you to trade the system, the moderator does not trade the CP live for anyone to see.

Bottom line, I think only experienced traders will find any use for it. I will update you on my 2nd go on this Challenge to try and get my pesos refunded

I wish you every success in getting a refund from them, but the two sentences above do sound pretty typical of "vendor promotions", in general?

The second is a common scenario, I gather, and the first makes me wonder why anyone with a good enough understanding of price action to use the thing profitably would need it in the first place.

A novel marketing approach, though, and maybe a clever way for them to incentivise customers to provide their own future marketing materials?

I was thinking the exact same thing...it is kind of genius when you think about it...they offer no money back guarantee...but if you can trade their system, they will not only give you the system free, but your money back as well. Speaking to date, no one has had their money refunded by passing the challenge to date. So either they know it is not possible to pass it.....or they are confident that their will be only a couple people will do it.....or it is a complete marketing scam, and they don't intend paying up no matter what you do...haha.......haha...I guess we will find out.

In regards why would I try it even thought I understand price action....very simple....I am always looking for another edge, and plus it seemed like a win/win offer for me. Anyways, I don't intend to let them slide.